It is a sub lease. The person on the application is not the resident. When I was a property manager, this was always a recipe to disaster. I had no control on the tenant, so the tenant from hell was the resident. Tenants ranged from good to very bad, with lots of illegal operations such as...

Increasing rents works very well until the local newspaper and TV news stations come knocking at your door, or the tenant pull your bluff and pays the inflated rent!

Very poorly worded lease. It is difficult to determine if it a fixed term lease or a month to month lease. Fixed term lease expires at the end of the lease, and you must give inform the tenant in writing that you will not be renewing the lease. If no notice given, then automatically month...

Edmonton Furnished Suites

Please describe the property? Why is a good property for a developer? Ritchie has a lot redevelopment property. Some good and many not. I work with several developers and they are in the buying mode. For example, RF3 zoning, end of block with 475 m2 lot size. RA7 land, 15,000 sq ft...

Spruce Avenue should be classified as one of the neighborhoods in the Black Triangle of East Edmonton, except it is on the other side of the street in the North West. Spruce Avenue is an older neighborhood in North Edmonton. Properties were built from starting from the 1920's. So the...

One of the best property management books is "How to manage Real Estate Successfully in your spare time" by Albert Lowery. Written in the 1980's and has a lot of great mgt ideas. Have to search online for a copy. What changes is the local laws,(province) and the new ways to collect rent...

Many current owners are reluctant to sell. They can only get 2% on their money at the banks, so why sell is a common comment. The rents are moving up and vacancy is down, so cash flow is very good if your asset is mortgage free. Or they have remortgaged for new investments, as rates are so low...

I prefer Phellps over Coinamatic, in Edmonton. I used to own machines, but not anymore. Who wants to repair the machines after the "Junkies" break into the machines for the coins. It's the relationship the local laundry company that works for me.

The easiest is to develop relationships with the active multifamily realtors in your area. New deals go out first to our clients and we start with the A list, then B list and then MLS. Many other commercial Realtors do the same. A lot of the MLS properties can be good deals, if you are...

Depends on your location and rental market. Check out the neighborhood and see if there are others out there. If you are in Edmonton or Calgary, the pool is a liability, and I would move on the next property. However, if you are in Phoenix or Los Angles, then a pool is a must. Properties...

Sure do if you taking american education, like the Rich Dad education. 3 companies, etc seem to be the way to go for the Americans. As for us Canadians, I suggest you find a real estate account and pay a few dollors for good advice. George Dube is excellant, and there are others. My...

If you are in Edmonton next Tuesday evening, we are having a "wholesale expert team" give a talk at a local investment club. This couple do wholesaling full time and work very hard to be successful. Last month we had a successful local Rent To Own specialist. Find others out in your local...

I agree with Adam. Heritage designation restricts the future users of the property as well as any renovations. Restricts the number of potential purchasers when you go to sell. Maybe not today, but in 5-10 years, it can become a real roadblock.

One of the primary reasons Investors (Out of town especially) buy in bad neighborhoods is the price is cheapest and lost of properties to buy. The same properties are always for sale. New buyer purchases, loses his investment with many bad tenants, and then gets out at any price. Many very...

We used to NOT charge for vacant property, As our thinking was if the property is vacant, then either the landlord or PM makes money. However, the cost of vacant property is not just rent. Utilities, snow removal, grass cutting, security checks, rental showings, contractors doing work...

I agree now is the time to buy, as Edmonton is rising from the bottom and prices are starting to move upward, somewhat slowly. I hope the arena district will pick up your neighborhoods, but every time I drive by the old arena, The Northlands Coliseum on 118 ave and Wayne Gretzty Drive...

Now that you know, you are allowing a tenant to live in an illegal suite, with no water or sewer. Fines can be large. I have had this on several garage rentals and did the following in the 20067 boom in Edmonton. Rents for storage garage were $150-300 per month. Bachelor suites rent for...

I have owned in Newton for years and find it ok. Avoid anything south of 119 Avenue, as all the action occurs on 118 ave. 3 bedroom house rents for $1500-1600. I bought the property after the old owner cleaned up after their's third bad tenant, and wanted out. On 118 ave, you get decent...

Most residential realtors have sales data on residential properties thru the local real estate board. So team up with a realtor, but remember a realtor time is worth something. Commercial land and properties data comes from other sources, and not thru the real estate board. That is available...